Lot 2 - Town Centre Commercial Investment
69-71 Regent Street, Isle Of Wight, PO37 7AE
Guide Price: *
£80,000
Fees apply
Buyer's fee:Check legal pack
All fees include VAT at 20%
Holding Deposit: *£5,000
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
Traditional
Highest bid:
£80,000Bid history
1 bidF
18/03/2024 17:39:00 - £80,000
Currently let at £11,000 per annum
This double-width former shop unit is located on Regent Street, which is considered to be the main trading street in Shanklin, a popular seaside town on the south-east corner of the Isle of Wight.
Formerly two retail units, the property is, at present, let to a tech company, originally under the terms of a three-year lease but with an additional year having recently been negotiated for addition to the lease term.
Ground Floor
Two former retail units now largely knocked through into a single open-plan office environment with a workshop/office, staff kitchen and cloakroom with W.C.
Outside
To the rear is a small courtyard-style garden and rear pedestrian access.
Tenancy
Occupied under the terms of an initial four-year lease from October 2021 at a rental of £11,000 per annum.
Tenure
To be sold under the terms of a new 125-year lease which will commence upon completion of the sale.
Summary
- Lot number
- 2
- Auction end
- 20th Mar at 11:00
- Property type
- Commercial
- Tenure
- Ask Agent
- Bedrooms
- 0
- Bathrooms
- 0
- Council tax band
- Ask Agent
Summary
- Lot number
- 2
- Auction end
- 20th Mar at 11:00
- Property type
- Commercial
- Tenure
- Ask Agent
- Bedrooms
- 0
- Bathrooms
- 0
- Council tax band
- Ask Agent
This property is being sold by:
Clive Emson - Hampshire, Dorset, Wiltshire & Isle of Wight
01489 564606
Unit 14, Fulcrum 2, Solent Way, Whiteley, Fareham, Hampshire, PO15 7FN
†Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
* Pricing Information
The Guide Price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide Price amount.
Bamboo Auctions and Clive Emson Auctioneers shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box above or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail.
Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by Clive Emson Auctioneers. All legal documents in relation to this property have been provided by the Vendor's solicitor. Neither Bamboo Auctions or any individual in employment with Bamboo Auctions makes any warranty as to the accuracy or completeness of any of the property information.
These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.
